Here are some best practices for family offices to follow when evaluating the quality of reporting provided by private debt managers:
- Establish reporting expectations: Family offices should establish clear reporting expectations with private debt managers, including the frequency and level of detail required in reports 1 .
- Evaluate the quality of reporting: Family offices should evaluate the quality of reporting provided by private debt managers, including the accuracy and completeness of the information provided 2 .
- Understand the reporting process: Family offices should understand the manager’s reporting process, including who is responsible for preparing the reports, how they are reviewed and approved, and how they are distributed to investors 3 .
- Use technology: Family offices can use technology to improve the quality and efficiency of reporting, including automated reporting tools and data visualization software 2 .
- Collaborate with other family offices: Family offices can collaborate with other family offices to share information and best practices for evaluating the quality of reporting provided by private debt managers 4 .
- Review the manager’s approach to ESG factors: Family offices can review how private debt managers incorporate ESG factors into their reporting to ensure that they are transparent about their approach to responsible investing 5 .
In summary, family offices can follow best practices for evaluating the quality of reporting provided by private debt managers by establishing reporting expectations, evaluating the quality of reporting, understanding the reporting process, using technology, collaborating with other family offices, and reviewing the manager’s approach to ESG factors.